SALES – Transactional Versus Relationship Selling- How to Get MAXIMUM Success!!!

sales transactional & relationships About this Article
  • This is a fascinating & knowledge-proving article, which covers transactional selling and Relationships sales, Or what we call the strategic sales relationship base sales at length.
  • It compares the two kinds of sales & the value added or gains by each kind of sales or selling strategies.
  • So also the issues or problems are discussed at length with the two different kinds of sales.
  • So again at the end of the article we have a FREE tool for enhancing sales, that is the Sales Enhancer.
  • Helps in relationship-related sales.
  • This solution enhances the Sales results by at least 30%. So you do at least 30% more sales easily.:)
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sales transactional Transactional Selling
  • Transactional sales is simply a sales which are focused on closing individual deals rather than building a relationship or looking for long-term relationships etc with the customer.
  • The goal is to simply close the sale by negotiating the prices Or giving some promotions or some convenience to convince the customer.
  • This typically happens in industries like retail or E-Commerce or sweet product or service sales.
  • The focus on the transaction sales is to do the sales as fast as possible.
  • Say for example Selling peanuts on the local train that would be an example of transactional sales. The salesperson or the seller negotiates with the customer the price or promotes his peanuts by giving some free 🙂 Of cost as well to make the sales happen.
  • So also the person would prefer maximum volume to the sales, that is most of his peanuts get sold. He might raise his volume on the train to make most people hear about the same.
  • So the basic idea is that sales person’s price gets the maximum profit.
  • As people keep changing every day or every trip as passengers on the train, the peanut seller knows that he will not meet the same set of people tomorrow or on the next trip. He handles his sales in accordance.
  • So also as a promotion He may add some free salt along with peanuts to motivate people to buy peanuts more easily . or maybe some sweet talk between him and the passenger to engage them the most. This is a typical example of transactional sales.
  • So we know here that even after post-sales the contact or follow or engagement with the customer is barely minimal.
  • So we notice that Transactional sales are essentially not focused on any repeat business but more of an instant revenue generation.
  • It primarily focuses on less time given to sales & high volume of sales.
  • Just like the case is for fast-moving goods FMCG is for electronic items.
  • So also for things like fruits or vegetable stuff this model is used. but in many cases, there are repeat customers as well for the vendor. so it means a bit of strategic selling is also involved here.
  • One of the downsides as we can see for transaction selling is that it is not focused on customer retention or getting repeat customers.
  • Is more on price negotiations quick selling or speed selling.
  • and offering better deals.
  • Happens for example when you are on a bus or train and someone selling peanuts or pens or whatever is it very typical example.
  • And essentially there is zero or null Repeat customers or customer engagement here.
sales  relationships Relationship Selling
  • So as we can see, the relationship business is where the focus goes on long-term relationships rather than just closing one-time relationships.
  • This is what happens with real estate where the seller wants to build up more trust with his clients.
  • It is where the service provider( property dealer) wants the client or customer to invest all over life.
  • For B2B sales or business-to-business sales, the basic thing is that the customer should go beyond a single sale and it should Foster repeat business. It could mean loyalty towards a brand or for the company.
  • So looking at long-term or relationship selling the salesperson has to invest time and energy in understanding the customer’s needs, which entails deeply connecting with the customer.
  • That means understanding the priorities and preferences and may be long-term goals of the customer.
  • And it involves a long connection at a personal level with the customer.
  • By providing the right kind of service or value to the end customer the retainer ship grows.
  • So as we can see relationship selling is not like transactional sharing.
  • As we know in transactional sales the primary focus is on price or promotions to make the sales happen.
  • It focuses more on the customer feeling good rather than about things solving customer problems better and giving better support answers to the questions of the customer.
  • The idea is to build up more trust and comfort for the customers; so that the customer returns in the future.
  • So as we can see relationship selling is more focused on long-term sales than short-term.
  • Goal is to build up customer loyalty and if possible retain it for a lifetime.
  • So this helps to build up a stable or repeat customer base, plus where the risk of getting losses due to customer mood changing is less.
  • As one can see there is a great effort which goes into relationship selling, but so also the dividends are very good here.
  • difference between sales transactional & relationships What is The Difference Between Transactional and Relationship Selling
  • Now the core difference between transactional selling and relationship selling depends on what is the basic goal of sales.
  • The goal of transaction sales is to quickly close the deal and get the solution service or product out of the door .
  • The interaction of connection time is less in general. So be the retail shop be discuss the peanut sales process in a tree in our bus.
  • Where relationship selling is more long-term focused it looks at more customer engagement.
  • Strategies to build a relationship and be able to sell.
  • Different industries or situations or business situations.
  • The key Focus in transaction sales is speed and efficiency of delivery and motivating the customer with price handling.
  • One of the goals of transaction selling is to get high volumes.
  • So say for example we take an example of the peanut seller or safe popcorn, who is selling the same on a train or bus. so the game is on how quickly that seller can sell to the passengers. Plus the total volume of sales will define the benefits that go to the peanut or popcorn vendor.
  • The retail stores or e-commerce also connect to the same kind of transactional sales .
  • So here the customer relationship is a brief focus in transactions or sales, while in relationship sales it is the core focus.
  • But so sales for relationship selling takes deeper customer engagement.
  • For that one has to personalize and so to say customized solutions are needed. So this in turn demands one to know the customer needs.
  • So especially such situations occur more frequently in real estate or say luxury sales or say one is doing Consulting. So as the situation demands one to get repeated consultation etc. So strategic and relationship sales are very important in such situations.
  • That’s why the focus is loyalty and retention of the customer.
  • Both these two types of sales transactional or relationship selling have various kinds of advantages.
  • Like relationship selling focuses or long-term revenue or ROI while investing in the customer relationship.
  • While transaction sales focus on quick short-term benefits of sales.
  • Now depending on what one has in the coterie one has to decide which kind of sales approach one has adopted.
  • Many sales systems have a mix of models of both approaches.
  • sincerity & sales Role of Sincerity in Sales
  • The core idea of Sales is to provide solutions by the salesperson and at the same time connect closely with the end customer.
  • That makes the customer feel that it is not a transactional sale and the salesperson is genuinely interested in helping them with the right solutions and products.
  • So also pushing the sales or making false claims or very aggressive claims to the customer is to be avoided to build trust with the customer.
  • To enhance the sincerity of the sales concerning the customer.
  • This approach helps to manage the brand’s reputation as well.
  • The sincere salesperson strives to know the core needs of the customers.
  • They need to offer solutions that the customer needs.
  • Also there is the education of the customer so that there is lesser expectation disconnect before and after sales.
  • The idea is to reduce the complaints and increase customer satisfaction.
  • So at the heart of it, being honest and transparent in sales helps the sales very much.
  • As customers are also very intelligent and they have a fair knowledge base.
  • sales convert to strategic partnerships
  • How to Turn Sales into Strategic Partnerships
  • What does it take To get the customer to collaborate or cooperate with the salesperson?
  • The Idea is to get the customer out of the transactional mindset. This in turn needs trust building and viewing the customer as a long-term buyer. so the basic idea is that long-term engagements can get better benefits for the end customer.
  • The first step is how to engage the salesperson with the customer.
  • The Problems the customer faces, plus the goals and needs of the customer. Also how the product or solution could help in providing a path or way for customers to achieve goals and solve his or her problems.
  • So also onwards it needs proper measurement of the success more communication knowledge of the industry which the customer is to help the customer to better.
  • So the basic trust build-up or forming a relationship, needs establishing trust with a customer and also being reliable.
  • Once again being transparent builds support and trust.
  • This also demands to deliver consistent quality.
  • The idea is to take customer dreams to success so that has also be demonstrated for the customer.
  • So when one goes for strategic partnership it goes much beyond the one-time sales .
  • Each other has to be viewed as a core development partner.
  • So the push for long-term service contracts is there.
  • The idea is to create a competitive advantage at the Marketplace for the end customer as the focus is on the growth of both parties(The customers and salesperson or the solutions provider ).
  • The bottom line is that the right kind of sales can help to be a key driver for sustained business success both ways.
  • conclusion Conclusion
  • This very relevant article clearly explains the core two kinds of selling.
  • One is the transactional selling and the other is the relationship selling.
  • Both have their value.
  • How are various kinds of selling of transactional and Relationships selling utilized in various situations in business is given.
  • What are the advantages and disadvantages of various kinds of sales is also given.
  • Our Sales Enhancer solution can help significantly in relationship selling or be-to-be sales.
  • In fact it can increase the ROI significantly by over 30%.
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